C3.ai

C3.ai is a developer of artificial intelligence technologies of the corporate level. The company offers the product C3 AI Suite representing a complex development environment and applications launch which allows clients to project, create and unroll corporate AI-applications quickly. The U.S. Air Force, the New York energy company Consolidated Edison and a number of the world's largest companies from the list of Fortune 500 are among clients of C3.ai.

History

2020: Entry into the NYSE exchange

On December 9, 2020 C3.ai officially became the public company, having placed the shares on the New York Stock Exchange under a ticker of AI. Morgan Stanley, JPMorgan and BofA Securities became underwriters of the IPO. It is authorized to them to redeem additional 2.325 million shares at the IPO price within 30 days from the moment of listing.

The AI startup carried out primary public placement of the actions at the price of $42 (range in $31-34, and later — $36-38 initially was called), having sold about 15.5 million papers. Within the IPO company attracted $651 million and it was estimated more than at $4 billion.

To closing of the exchange in the first day of a trading in shares of C3.ai their rate made $92.49 that for 120.2% exceeds a placement indicator. As a result market capitalization of a startup exceeded $10 billion.

The developer of corporate solutions AI C3.ai went public

You can expect that we will do the high-disciplined, professional business which will be able to become structurally profitable and structurally positive in terms of money in the long term — general Thomas Siebel of the director of C3.ai in the letter said to investors before the IPO.

It is supposed that high interest in the stocks C3.ai can be connected with what the company was based by Thomas Siebel, the former top manager of Oracle and also with investments of Microsoft. The American corporation announced plans to acquire the shares C3.ai for $50 million^[1]

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